On September 29, 2017, Siris Capital Partners (“Siris”) informed
Synchronoss that Siris would terminate its discussions regarding a
potential transaction unless Synchronoss agreed to negotiate exclusively
with Siris. Given the status of the process and the continued interest
from other parties, Synchronoss determined that entering into an
exclusivity agreement with Siris at that time was not in the best
interest of the Company’s shareholders. The Company remained in active
discussions with multiple parties on what the Board believed to be more
attractive proposals compared to the most recent terms being discussed
with Siris at that time.

On October 4, 2017, the Company and Siris determined to restart
discussions regarding a potential transaction. Those discussions
included improved terms compared to those previously discussed.
Following those discussions, the Board determined it was in the best
interest of Synchronoss shareholders to enter into an agreement with
Siris providing for a limited period of exclusivity to allow for
negotiation of definitive agreements.

The Company noted that there can be no assurance as to whether or not
any transaction will take place, the structure of such a transaction, or
the ultimate timing. The Board remains committed to maximizing
shareholder value and will carefully consider all available options and
make a decision that reflects the best interests of all shareholders.

About Synchronoss Technologies, Inc.

Synchronoss (NASDAQ: SNCR) is an innovative software company that helps
both service providers and enterprises realize and execute their goals
for mobile transformation now. Our simple, powerful and flexible
solutions serve millions of mobile subscribers and a large portion of
the Fortune 500 worldwide today. For more information, visit us at www.synchronoss.com.

Forward-looking Statements

Certain statements contained in this press release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include, but are
not limited to, plans, objectives, expectations and intentions and other
statements contained in this report that are not historical facts,
including statements regarding our exploration and evaluation of
strategic alternatives and statements identified by words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “outlook” or words of similar meanings. These statements
are based on the Company’s current expectations and beliefs and various
assumptions. There can be no assurance that the Company will realize
these expectations or that these beliefs will prove correct. There can
be no assurance that the strategic review process will result in any
transaction or strategic alternative, or any assurance as to its outcome
or timing. Numerous factors, many of which are beyond the Company’s
control, could cause actual results to differ materially from those
expressed as forward-looking statements. These factors include, but are
not limited to, risks associated with the ongoing and uncompleted nature
of the Company’s accounting review; fluctuations in the Company’s
financial and operating results; integration of the Company’s Intralinks
business and execution of the Company’s cost reduction plan; the
Company’s substantial level of debt and related obligations, including
interest payments, covenants and restrictions; uncertainty regarding
increased business and renewals from existing customers; the dependence
of the Company’s Intralinks business on the volume of financial and
strategic business transactions; disruptions to the implementation of
the Company’s strategic priorities and business plan caused by changes
in the Company’s senior management team; customer renewal rates and
attrition; customer concentration; the Company’s ability to maintain the
security and integrity of the Company’s systems; foreign currency
exchange rates; the financial and other impact of previous and future
acquisitions; competition in the enterprise and mobile solutions
markets; the Company’s ability to retain and motivate employees;
technological developments; litigation and disputes and the costs
related thereto; unanticipated changes in the Company’s effective tax
rate; uncertainties surrounding domestic and global economic conditions;
other factors that are described in the “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of the Company’s Annual Report on Form 10-K for the
year ended December 31, 2016, which is on file with the SEC and
available on the SEC’s website at www.sec.gov.
Additional factors may be described in those sections of the Company’s
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2017 and
June 30, 2017, to be filed with the SEC as soon as practicable. The
Company does not undertake any obligation to update any forward-looking
statements contained in this press release as a result of new
information, future events or otherwise.